Other Briefings
India Blocks Entry of Foreign For-Profit Universities
Apr. 15 – One of the restrictions of India’s newest Foreign Education Providers Bill will block the entry of foreign for-profit universities in the country. Last month, the cabinet approved the Foreign Education Providers Bill that would allow foreign universities to establish campuses in India. The bill also restricts foreign universities from repatriating money to […]
Foreign Investment Promotion Board Calls for Less Undue FDI Scrutiny
Apr. 13 -The Foreign Investment Promotion Board (FIPB) has asked the Department of Revenue to lessen its scrutiny of foreign direct investment proposals to cut delays. Following FIPB rules, a proposal need only to be vetted by the original ministry and any related ministry when recommended by the board. Official sources said that the Department […]
India Reconsidering FDI in Multi-Brand Retail, Hamleys Moves In
Apr. 12 – India is considering opening multi-brand retail to more foreign direct investment with the Department of Industrial Policy and Promotion (DIPP) in talks with the Finance and Agricultural Ministry on the issue. “The move to open up retail sector is part of the government’s strategy to plug gaps in the existing food supply […]
Higher Withholding Tax for those with No Permanent Account Number
Apr. 8 – Beginning this month, tax deducted at source on payments will be higher for taxpayers providing no permanent account number (PAN). The higher withholding tax rate of as much as 20 percent for taxpayers with no PAN is aimed at improving tax management and compliance. Taxes are required to be withheld at withholding […]
India’s New Simplified FDI Policy Highlights
By Chris Devonshire-Ellis Apr. 7 – As previously mentioned here and here, the Indian government has simplified some foreign direct investment policies that affect investment coming into the country. These are largely to be welcomed. Here we highlight the items that are likely to affect the majority of foreign investors into India. The general sectors […]
Corporate Financial Disclosure Reduced to Within 45 Days
Apr. 7 – The Securities and Exchange Board of India (SEBI) announced in a circular that all listed companies are required to disclose their financial results within 45 days of the end of every quarter as a way of simplifying the reporting process and improving transparency. Previously, companies were given 30 to 60 days to […]
New Law to Ease Insolvency Process
Apr. 6 – A new separate law on insolvency proceedings may help make it easier for companies wanting to close down operations; specifically cutting the process for small and medium enterprises. The proposal will cover insolvency provisions for companies, partnerships, sole proprietorship firms and limited liability partnerships. “Speedy winding up of sick enterprises, particularly small […]
India’s New Consolidated FDI Policy Available for Download
Apr. 2 – India’s Ministry of Commerce and Industry has released a copy of the new consolidated FDI policy circular effective starting April 1. The document is part of a government effort to make it easier for more foreign investments to enter the country to help improve industrialization and socio-economic development.
